Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1887-05-21

and ElSeWhere-Waf
in High Life.
PACIFIC RAILROAD INVESTIGATION
Blaine's Connection with the Credi
Mobilier-Jay Gould ON the Stand.
New YORK, May 17.-In the Pacific Rail
way investigation to-day, the well known
broker, John Ponder was On the stand
Ponder vent over the old story OF tn
Credit Mobilier and took occasion tt
vindicate Cakes Ames, saying he was al
honorable man and a killed by Infamous
stories told concerning him. Ponder
ATTEMPTED to show the connection o
Blaine with the Credit Mobilier. He sale
that when Tom Scott was elected Presi
dent of the Union Pacific, Scott told the
witness that he had eighty-two bonds which
belonged to Blaine which the Union Pacific
would have to pay
jay Gould was next placed on the stand
and told at length his story and his con.
nection with the Union Pacific. Gould
said his books containing the accounts Of
all the transactions were at the service O
the commission. and when the special
agreement of 1878 was exhibited he re.
called facts in existence as acknowledged
signing for over $4,000 900 securities.
His books would show what he paid for
them. The were entered at 80. The only
way out of the difficulty was to take the
mass OF securities in one mans hands and
issue consolidated mortgage bonds as a
preliminary step to placing the security on
it's feet. He agreed to accept 80 Tor his
part of the securities. A good many
thought the price too low. Unstamped
bonds had 2, better lien than stamped.
and their value was fixed at 30.
1t was soon demonstrated that this pool
agreement would not carry. and a CONSOLE
dated mortgage was determined upon be-
tween April, 1878, and May, 1879. The
object of the consolidated mortgage was
consolidate the heterogeneous mass OF
securities under one uniform security.
Most of these bonds were held by Ames
and himself. He thought 80 cents was a
lair price for this 50, 600, 900 stamped in
bonds, and that was the price he
took for all he had in the pool. At the
time of the consolidation he owned 10000
shares of the Union Pacific, worth 93B,
and p, worth 90. The latter was i'm.
mensely valuable property, but had been
badly managed. He presumed the reason
he bought the income bonds was because
they were on the eastern end Of the road,
it's valuable portion. He bought OF Am
sterdam people, and paid for two million
worth of Denver Pacific
bonds. He believed the price
was "a, which was the
price he sold them to Mr.. Sage. The
roads east from Omaha forcing the Union
Pacific to pro-rate it was found necessary
to get an outlet by the Hannibal & St. Joe.
Wabash & Southern roads, SO as to pre-
rent this. That is what made these &C.
QUESTIONS desirable to the Union Pacific.
In addition to the stock ne held to the
time of the consolidation Gould said he
owned 6 per cent Of the consolidated bonds
of the Kansas Pacific to the amount of
50. 600, 900, and Union Pacific collateral
6s in the sum of 81 600, 900. On the first
of January, 1879, he owned 100000
shares of Union Pacific stock. Little more
than a year later he was clear on the books
of the Union Pacific Railroad. There was
a law in Massachusetts which allowed any
body or any claim against a railroad to
attach 8. ock. He put it out OF his name
because a claim had been trumped up and
his stock was to be attached and destroyed
collateral. 1t was retransferred to him
after consolidation.
Gould says on the Supreme Court 8 decis-
sion ON this hill, he made up his mind he
would better have several thousand OF the
1t VAS for his interest to put the
out as consolidation had advanced
it's value twenty points. While Gen.
and Scion Humphreys were engaged
in ascertaining the proper basis forconsoli-
dation witness purchased the Missouri
Pacific in order to protect the Kansas
Pacific and became averse to consolida-
ton. He offered his check for 81, 600, 900
if they would not ask him to consent to
this consolidation. They kept witness
in his office until he signed a paper, agree.
ing to carry the consolidation through. He
thought this paper was now in
Boston. That he a to be made director
in the new company was not determined
upon at the time he signed the paper. It
was desirable to put in the Denver Pacific
OF which he bad 81 900, 600 worth,
bought at ten cents. Witness told Holmes
if he could get an order of the court re-
we would put IT in at more than it
was wor4h. $500, 600. The trustees get
nothing of this stock. It had not been re-
leased. for the bonds would have been
I, reclose | and the stock could not have
gone INTO the consolidation. What wit
ness did in the matter was a thing for
trust, and he was willing to stand by bis
action.
In answer to Commissioner Anderson's
searching question regarding the handling
of Denver Pacific stock trust, Gould re-
piled vigorously, gesticulating violently.
He seemed greatly incensed at the imputa-
ton Of a ~dishonorable deal between. Sage
and himself in reference to this trust. Ad-
The Rossin house is only a few blocks
and as the party drove the crowd
and the enthusiasm grew greater.
The spacious rotunda of the hotel was one
mass of humanity. To reach his room
rs impossible, to register wal impossible,
20 O'Brien was
HoIsTED ON THE SHOULDERS
Of strong men and carried to the broad
stair case and there amid intense excite
nent, was presented with an address, by D.
CahiIl, Secretary OF the local branch of the
National League. During O'Brien's reply,
were frequent attempts at Interrupt
lion by several Of the crowd hooling, but
as before the overwhelming majority were
y pEICullcS duu uElciI ClceTS SOuuUeU ike d
ROwdyism in Toronto.
TORONTO, May 17.-Never in the worst
of the Belfast disorders. was a scene
II more disgraceful rowdyism exhibited
that shown this afternoon in the
Queens Park. when a crowd OF Toronto
attempted to storm the plat
crm, and failing in that to choke off all
possibility OF Mr.. O'Brien being heard by
up a continual din OF
GRoANING AND KISSING,
md cries OF God save the Queen" and
Rule Britannia" 1t was 4 O'Clock when
he crowd had about fully collected and it
hen seemed fair to sci the mum Der present
It Is. 900. although people kept pouring in
n such floods from all quarters after the
had begun hat there were times
Vhen 20, 900 would not be an overestimate.
dany banks were closed and students in
he University were let loose. Many of
hese with crowds OF
DESPERATE oKIN RoUGHs
those only gloryin life seemed to be a row
n riot. were recognized in the compact
and. They excited little suspicion because
hey said never a word until their time
ame. The first demonstration cameron
solitary man at the left of the platform
stood upon the stump OF a tree and
egan grooming at the meeting, and at